Fidelity Southern (LION) Downgraded by ValuEngine

ValuEngine cut shares of Fidelity Southern (NASDAQ:LION) from a buy rating to a hold rating in a report released on Friday.

A number of other analysts have also recently commented on LION. BidaskClub cut shares of Fidelity Southern from a buy rating to a hold rating in a research report on Friday, July 13th. Zacks Investment Research upgraded shares of Fidelity Southern from a sell rating to a hold rating in a research report on Friday, October 5th. Sandler O’Neill set a $26.00 target price on shares of Fidelity Southern and gave the stock a hold rating in a research note on Monday, July 23rd. Finally, Stephens raised shares of Fidelity Southern from an equal rating to a weight rating in a research note on Friday, September 7th. Four research analysts have rated the stock with a hold rating, The stock has a consensus rating of Hold and an average target price of $27.00.

Shares of LION traded down $0.45 during trading hours on Friday, reaching $22.70. The stock had a trading volume of 118,077 shares, compared to its average volume of 106,862. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.29. Fidelity Southern has a 52 week low of $20.28 and a 52 week high of $27.05. The stock has a market cap of $674.37 million, a P/E ratio of 17.33 and a beta of 0.91.

Fidelity Southern (NASDAQ:LION) last released its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.10). Fidelity Southern had a net margin of 13.68% and a return on equity of 9.04%. The firm had revenue of $73.45 million during the quarter, compared to the consensus estimate of $70.50 million. On average, equities research analysts expect that Fidelity Southern will post 1.44 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in LION. Dimensional Fund Advisors LP boosted its stake in Fidelity Southern by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,847,906 shares of the financial services provider’s stock worth $46,956,000 after purchasing an additional 167,547 shares during the period. BlackRock Inc. boosted its stake in Fidelity Southern by 5.6% in the 2nd quarter. BlackRock Inc. now owns 3,045,528 shares of the financial services provider’s stock worth $77,386,000 after purchasing an additional 160,375 shares during the period. Wells Fargo & Company MN boosted its stake in Fidelity Southern by 53.1% in the 2nd quarter. Wells Fargo & Company MN now owns 283,668 shares of the financial services provider’s stock worth $7,207,000 after purchasing an additional 98,390 shares during the period. Millennium Management LLC acquired a new position in Fidelity Southern in the 1st quarter worth $1,264,000. Finally, Renaissance Technologies LLC acquired a new position in Fidelity Southern in the 2nd quarter worth $1,183,000. 69.16% of the stock is owned by hedge funds and other institutional investors.

About Fidelity Southern

Fidelity Southern Corporation operates as the holding company for Fidelity Bank that provides financial products and services primarily for individuals, and small and medium-sized businesses in the United States. The company accepts noninterest-bearing demand and interest-bearing demand accounts, including money market accounts and savings deposits; and time deposits.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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